A prior peak at 30.885 is still the benchmark to beat if bulls are going to rattle the bad guys next week. The task shouldn’t be too difficult, since the futures have plenty of wind in their sails from numerous minor, bullish patterns. One that I especially like projects to 31.02, and although it’s about as obscure as they come, it has two things going for it: 1) the k-A segment and B-C look like they could be siblings, at least in hillbilly country; and 2) price action during the last few days has centered on the 30.14 midpoint associated with the target. If the week ends with the futures settled above that number, my hunch is that things will go smoothly for bulls in the days ahead.
